CAJ | 학술논문

期货市场本质上是一个法治市场，专门的期货立法是适应市场发展新形势、提升市场发展层次和水平的关键。与近年来期货市场的不断创新发展相比，我国期货市场的法治化建设仍亟待加强。经过20多年的发展，我国期货市场已经逐步形成了以《期货交易管理条例》为核心的监管规则体系，但是《期货交易管理条例》主要侧重于对期货市场的行政监管，法律层面的《期货法》一直没有制定出来。《期货法》的调整范围是期货市场立法过程中需要首先解决的问题，研究《期货法》的调整范围，重点就是要明确《期货法》调整和规范哪些法律关系，厘清《期货法》与《证券法》关于“证券衍生品”的调整边界，明确场外衍生品市场的监管原则，从而实现《期货法》与其他部门法在调整范围上的协调衔接，避免出现法律适用的不确定性以及法律调整上的交叉重叠。
기화시장본질상시일개법치시장，전문적기화입법시괄응시장발전신형세、제승시장발전층차화수평적관건。여근년래기화시장적불단창신발전상비，아국기화시장적법치화건설잉극대가강。경과20다년적발전，아국기화시장이경축보형성료이《기화교역관리조례》위핵심적감관규칙체계，단시《기화교역관리조례》주요측중우대기화시장적행정감관，법률층면적《기화법》일직몰유제정출래。《기화법》적조정범위시기화시장입법과정중수요수선해결적문제，연구《기화법》적조정범위，중점취시요명학《기화법》조정화규범나사법률관계，전청《기화법》여《증권법》관우“증권연생품”적조정변계，명학장외연생품시장적감관원칙，종이실현《기화법》여기타부문법재조정범위상적협조함접，피면출현법률괄용적불학정성이급법률조정상적교차중첩。
Futures market is essentially a legal market, legislation in futures market is the key factor to meet with the new trend of market development and to improve the level of futures market. April 2014, the State Council issued the Several Opinions on the Further Healthy Development of Capital Market, which made top-level design and strategic planning on the reform and development of futures market. The adjustment range of Futures Law is a basic problem on legislation in futures market, which is to find out the legal relationships adjusted and standardized by Futures Law and the coordination convergence among different laws. This paper will focus on three essential questions of the adjustment of Futures Law: the legal definition of Futures, the coordination of adjustment range of Futures Law and Securities Law, and whether the OTC derivatives markets should be adjusted by the Futures Law.